Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Section 11 exemption - Violation of Section 13(1)(d) regarding excess payment to sister trust disallowed. Honorarium paid to Ms. Meenakshi Sundaraja allowed based on Memorandum of Association and Tribunal's earlier decision. Payment of loan to M/s. Ganapathy Educational Trust (GET) for construction of college building, a sister concern with similar objects, allowed as it does not violate Section 13(1)(c). Assessee provided details of loan repayment to GET and payments made to contractors as directed by High Court. Payments made as loan to other charitable trusts do not violate Section 13(1)(c).
Section 11 exemption - Violation of Section 13(1)(d) regarding excess payment to sister trust disallowed. Honorarium paid to Ms. Meenakshi Sundaraja allowed based on Memorandum of Association and Tribunal's earlier decision. Payment of loan to M/s. Ganapathy Educational Trust (GET) for construction of college building, a sister concern with similar objects, allowed as it does not violate Section 13(1)(c). Assessee provided details of loan repayment to GET and payments made to contractors as directed by High Court. Payments made as loan to other charitable trusts do not violate Section 13(1)(c).
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